Cite as [A.S.A.C. § 31.0505]
(a) The term, “public accounting practice”, also referred to as “public practice”, as used in Chapter 31.02 ASCA and in this chapter means the performing for a client, or a fee basis, one or more types of services rendered by public accountants and the holding out to the public to be a certified public accountant, licensed under 31.0210 A.S.C.A., or a public accountant, licensed under 31.0217 A.S.C.A., as:
(1) A sole practitioner; or
(2) A partner in a partnership of certified public accountant or public accountants or a combination of both; or
(3) A principal in a professional accounting corporation.
(b) the term shall also include a certified public accountant or public accountant employed as a staff employee of the sole practitioner, partnership or professional accounting corporation described in subsection (a).History: Rule 3-88, eff 18 Apr 88.